If you read the news, you might have noticed a trend this past week. In addition to splashy features in Fortune and Bloomberg, Tether CEO Paolo Ardoino talked with Reuters, He also talked with TechCrunch. Why did the man behind the stablecoin that everyone loves to hate launch a full-scale media blitz' The timing isn't arbitrary. This week, Tether launched USAT, a U.S.-regulated stablecoin issued through Anchorage Digital Bank ' its first product designed to comply with new federal rules and compete directly with Circle's USDC. Fidelity Investments also just launched a competing stablecoin on Wednesday, joining JPMorgan Chase and PayPal in a broadening race. Then there's Howard Lutnick, the former Cantor Fitzgerald CEO. With Lutnick now a year into his role as Commerce Secretary and Cantor Fitzgerald managing Tether's reserves, Ardoino appears to be seizing the moment to reposition Tether as not only legitimate but essential. It's a big shift from one extreme to the other. For...
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